2:1 bonus share, 2:1 stock split & 2,480 per cent multibagger returns: This electric vehicle (EV) loan provider company allots 7,65,000 shares upon conversion of warrants

From Rs 4.75 per share to Rs 122.90 per share, the stock gave multibagger returns of 2,480 per cent in just 3 years.

Today, shares of Mufin Green Finance Ltd gained 0.6 per cent to an intraday high of Rs 122.90 per share from its previous closing of Rs 122.20. The stock’s 52-week high of Rs 273.10 while its 52-week low is Rs 35 per share. The stock gave multibagger returns of 195 per cent in just 1 year whereas BSE Small-Cap Index is up by 60 per cent.

The company issued 7,65,000 equity shares with a face value of Re 1 each for Rs 55 per share to investors who converted their warrants. This preferential allotment resulted in a total collection of Rs 3,15,56,250. The warrants, which gave holders the right to subscribe to one equity share per warrant at a predetermined price within 18 months of allotment, required a 25% down payment upfront with the remaining 75% due upon conversion. Investors Lanka V N Muralidhar, Chhattisgarh Investment Ltd, and Anant Sarda converted 50,000, 6,50,000, and 65,000 warrants respectively, increasing their ownership stake in the company. Any unexercised warrants after 18 months will lapse, and the company will forfeit the initial down payment.

Mufin Green Finance is a company that provides financial solutions to underserved communities in India. They focus on climate financing solutions, such as loans for electric vehicles. Their mission is to create financial opportunities and a more sustainable planet. Mufin Green Finance, an investment firm offering advisory, asset management, and financial planning services, boasts a market cap of over Rs 1,800 crore and an impressive 195 per cent CAGR profit growth over 3 years.

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The company's performance in the first nine months of fiscal year 2024 (9MFY24) has been significantly stronger than its performance in the entirety of fiscal year 2023 (FY23). Net sales have grown by Rs 30.67 crore, representing an increase of nearly 87 per cent (from Rs 35.16 crore to Rs 65.83 crore). Net profit has also seen a substantial rise of Rs 3.88 crore, reflecting a growth of almost 48 per cent (from Rs 8.12 crore to Rs 12 crore). These figures point towards a positive trend for the company in the current fiscal year.

From Rs 4.75 per share to Rs 122.90 per share, the stock gave multibagger returns of 2,480 per cent in just 3 years. In the past three years, the company has implemented three corporate actions: a final dividend of Rs 0.2 per share on September 2, 2022, a 2:1 stock split on April 13, 2023, and a 2:1 bonus share issuance on July 02, 2023. These actions have increased the number of outstanding shares and potentially impacted the company's stock price and financial ratios.

Disclaimer: The article is for informational purposes only and not investment advice.